$1,669,000
Investment Summary
- Monthly Cash Flow
- -$7,254
- Cap Rate
- 0.5%
- Cash-on-Cash Return
- -22.7%
- Debt Coverage Ratio
- 0.08
- Internal Rate of Return (5 years)
- -17.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Welcome to this stunning Toll Brothers-built home, ideally situated in the heart of the highly sought-after Walnut Ridge subdivision.Step into the grand foyer, where elegant dual staircases set the tone for the sophistication that defines this exceptional home. Enjoy a spacious living room, perfect for hosting special occasions, along with a generously sized formal dining room designed for memorable gatherings. Just off the hallway, you'll find a quiet and expansive home office Beyond the grand foyer, a breathtaking two-story tall family room awaits, filled with natural light and centered around a cozy fireplace that creates a warm, inviting atmosphere.The gourmet chef's kitchen is a true centerpiece, featuring beautiful cabinetry, granite countertops, a brand-new refrigerator, and More... built-in microwave oven, new dishwasher. perfectly blending style and functionality. Adjacent to the kitchen, a light-filled sunroom offers the ideal space for your indoor plants or a relaxing morning coffee spot. Situated on the second floor, new carpet just installed.he luxurious primary suite is a sanctuary of sophistication. It features a vaulted ceiling and a generous sitting area .The adjoining primary bath boasting ample walk-in closets, dual vanities, separate water closets, and a Jacuzzi soaking tub, blending elegance with everyday comfort.Every bedroom comes complete with its own full en-suite bathroom, ensuring both privacy and convenience for family and guests. Step into the walk-out finished basement an elegant hub of entertainment and active living. Hardwood flooring installed throughout the entire basement. level is designed for luxury and leisure, featuring: A stylish wet bar, perfect for hosting, equipped for effortless entertaining.A expensive private wine cabin, ideal for storing and showcasing a curated collection. A spacious indoor Jacuzzi tub and sauna suite, offering spa-inspired relaxation right at home.The expansive, low-maintenance deck seamlessly connects your home to both the front and rear gardens, offering effortless access and all-season enjoyment. Designed for lasting beauty and convenience. Beyond the deck, the private backyard reveals a peaceful retreat complete with a charming water fountain and an elegant brick patio, perfect for al fresco entertaining or quiet reflection. Mature, thoughtfully planted trees add prestige, privacy, and lush visual appeal, showcasing a curated landscape designed to impress. Two years old roof is a major advantage for new Owners. This home is just minutes from downtown Ann Arbor, offering instant access to premier shopping, dining, entertainment, and cultural venues.Benefit from Ann Arbor Public Schools while enjoying significantly lower Scio TWP property tax rates.
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Location
Property Details
Parking
- Description: Garage
- Details: Garage Door Opener, Garage Faces Side, Attached, Asphalt
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
- Basement: Yes
- Basement Description: Walk-Out Access, Finished, Sump Pump
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Combination
- Roof Material: Shingle
HOA
- Has HOA: Yes
- HOA Fee: $2,000/annually
- Additional HOA Fee: $2,000
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: H0813450082
- Lot Size: 25265 sqft
Property Information
- Property Type: Single Family Residence
- Style: Colonial
- Year Built: 2004
Tax Information
- Annual Tax: $20,080
Utilities
- Water & Sewer: Public
- Heating: Natural Gas, Forced Air, Hot Water, Electric
- Cooling: Central Air
Location
- County: Washtenaw
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,254
- Cap Rate
- 0.5%
- Cash-on-Cash Return
- -22.7%
- Debt Coverage Ratio
- 0.08
- Internal Rate of Return (5 years)
- -17.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,669,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,335,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $333,800 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $50,070 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $383,870 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 8,147 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $205 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $0.44 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,335,200 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $7,898 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,673 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $252 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $9,823 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 46% | -$1,673 | -$20,080 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$252 | -$3,024 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$288 | -$3,456 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$180 | -$2,160 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$180 | -$2,160 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 5% | -$167 | -$2,004 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 76% | -$2,740 | -$32,884 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $644 | $7,728 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$7,898 | -$94,776 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$7,254 | -$87,048 |